Finally!
So what we all (well most) knew was going to happen, finally did. BitConnect announced it would be closing its exchange and basically leaving everyone high and dry while they run off with all the BTC they received in exchange for their token. I'm not going to bore everyone with all the details of what happened, what they did to try to cover it or anything like that. This article is not about that. I was contacted by multiple clients, friends, coworkers and others I have met online about this massive screw job and to be honest, I'm floored...hear me out.
Why Oh Why?
One of the biggest questions I have been asked over the past year was EXACTLY what the pic above says. My answer was always the same thing, time after time...YES! Yet, when I would tell people this, they would stare blankly. They would preach to me about how they see all the life changing experiences people are having, how it seems so stable and basically an unsinkable ship (insert Titanic memes). I would ask them why they thought this. The simple answer was usually something about ALL the Youtubers promoting it and people jumping on board with them. When asked who the Youtubers were, the usual suspects' names were mentioned (c'mon peeps, we all damn well know "the dream team" of scammers so no sense in giving any more mentions). I asked them about the software that was used, how they know it is legit. I asked them if it made absolute sense to pay someone roughly 1% a day for the foreseeable future and still be profitable. Still, the blank, deer in the headlights looks.
After all this, they STILL INVESTED!!!! The rest is history and we all know now what transpired. Value of the token went down faster than a hooker on payday! The bottom line is everyone was "shocked" this happened yet the writing was on the wall and just as much as the shilling of the platform was done, so was the warning that it would collapse and everyone would be SOL.
My Two Cents
I warned people. I preached that nothing made sense and the only true way that anyone was making money was those who promoted the daylights out of it. I did not invest, I was known as one of the "haters" out there and now I'm the shoulder for everyone to cry on. I personally know many people who are financially ruined by this mess and I do feel sorry, not for the ones who invested but for the impact being felt by their children, their spouses, family and friends. Some people have ruined friendships because they pushed it down others' throats so much that they seemingly just signed on and deposited just to shut someone up.
But at the end of the day, the only person to blame is yourself on this. If you didn't do the research. If you invested more than you were afraid to lose. If your greed took over and you fucked over your entire family by dropping the mortgage, car note or savings into this thing, then you need to suck it up and look in the mirror and take your frustrations out on that person. The face looking back at you is the one you should be mad at. Not the guys promoting it. Not BitConnect, but yourselves. Stop blaming others and take action for your calculated misfire on this one. If you would have thought with your brain and not your greedy ass wallet filling personality, then no one would be talking about this in the first place.
So the next time, if it sounds too good to be true, it probably is...simple statement uttered a million times over. Learn it, and live by it.